NCUA to discuss truth in savings operating budget at July open meeting

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NCUA to discuss truth in savings operating budget at July open meeting

ALEXANDRIA, Va. (7/23/10)— The National Credit Union Administration (NCUA), at its upcoming board meeting at 10 a.m. ET next Thursday, will discuss a proposed rule on so-called golden parachutes and indemnification payments. Part 707 of NCUA's Rules and Regulations, Truth in Savings, are also on the docket. Changes to the Federal Reserve Board's Regulation DD, which implements the Truth in Savings Act, came into effect on July 6. Those changes addressed depository institutions' disclosure practices related to overdraft services, including balances disclosed to consumers through automated systems. The NCUA will also discuss interim final rules that address the definition of low income. The monthly insurance fund report, as well as the NCUA’s operating budget will also be addressed during the meeting. During the closed portion of the meeting, the NCUA will discuss supervisory activities. A separate closed meeting of the board is scheduled for the following Friday. For the full NCUA release, use the resource link.